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Robinhood Markets, Inc. (HOOD) Stock Declines While Market Improves: Some Information for Investors
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Robinhood Markets, Inc. (HOOD - Free Report) ended the recent trading session at $11.89, demonstrating a -0.75% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.18%. Meanwhile, the Dow experienced a rise of 0.07%, and the technology-dominated Nasdaq saw an increase of 0.1%.
The company's shares have seen an increase of 4.36% over the last month, not keeping up with the Finance sector's gain of 4.37% and outstripping the S&P 500's gain of 2.75%.
The investment community will be paying close attention to the earnings performance of Robinhood Markets, Inc. in its upcoming release. The company is slated to reveal its earnings on February 13, 2024. In that report, analysts expect Robinhood Markets, Inc. to post earnings of -$0.01 per share. This would mark year-over-year growth of 94.74%. Our most recent consensus estimate is calling for quarterly revenue of $452.1 million, up 18.97% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Robinhood Markets, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.37% downward. As of now, Robinhood Markets, Inc. holds a Zacks Rank of #3 (Hold).
In terms of valuation, Robinhood Markets, Inc. is presently being traded at a Forward P/E ratio of 83.19. Its industry sports an average Forward P/E of 15.36, so one might conclude that Robinhood Markets, Inc. is trading at a premium comparatively.
The Financial - Investment Bank industry is part of the Finance sector. With its current Zacks Industry Rank of 219, this industry ranks in the bottom 14% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Robinhood Markets, Inc. (HOOD) Stock Declines While Market Improves: Some Information for Investors
Robinhood Markets, Inc. (HOOD - Free Report) ended the recent trading session at $11.89, demonstrating a -0.75% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.18%. Meanwhile, the Dow experienced a rise of 0.07%, and the technology-dominated Nasdaq saw an increase of 0.1%.
The company's shares have seen an increase of 4.36% over the last month, not keeping up with the Finance sector's gain of 4.37% and outstripping the S&P 500's gain of 2.75%.
The investment community will be paying close attention to the earnings performance of Robinhood Markets, Inc. in its upcoming release. The company is slated to reveal its earnings on February 13, 2024. In that report, analysts expect Robinhood Markets, Inc. to post earnings of -$0.01 per share. This would mark year-over-year growth of 94.74%. Our most recent consensus estimate is calling for quarterly revenue of $452.1 million, up 18.97% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Robinhood Markets, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.37% downward. As of now, Robinhood Markets, Inc. holds a Zacks Rank of #3 (Hold).
In terms of valuation, Robinhood Markets, Inc. is presently being traded at a Forward P/E ratio of 83.19. Its industry sports an average Forward P/E of 15.36, so one might conclude that Robinhood Markets, Inc. is trading at a premium comparatively.
The Financial - Investment Bank industry is part of the Finance sector. With its current Zacks Industry Rank of 219, this industry ranks in the bottom 14% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.